Accounting News, December 2010

21 December 2010

Tim Kendall , National Leader, Audit & Assurance |
This Christmas we bring good news that there are no major changes to accounting standards or interpretations that could impact your financial statements for 31 December 2010 (annual or half-years). However, the IASB have been busy over the last couple of years tinkering with standards and interpretations and making improvements here and there. The Corporations Amendment (Corporate Reporting Reform) Bill 2010 which received Royal Assent on 28 June 2010 also impacts financial statements for 31 December 2010 for the first time, as do the Reduced Disclosure Requirements for Tier Two entities preparing general purpose financial statements. This month’s newsletter summarises these changes.